USDINR TECHNICAL OUTLOOK28.10.2016
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
USDINR, the pair after opening at 67.18and made a high of 67.23 and had side wise session to a narrow range bar that suggest bulls and bears are in tug of war, for past many weeks and the pair is trading in the range of 66.60-67.00 levels for past many days on spot basis , and trend is likely
to be the same for the day.
Fundamental Overview
US dollar index is trading at 98.90, continuing to appreciate against all the major currencies in yesterday’s trade. A positive reading in Jobless claims, acceptable durable goods orders and above all, the rising treasury yields added to the dollar’s strength. Markets would be looking forward to the Q3 GDP data from the US today. Another positive reading will add to the US dollar strength, else we can expect a correction.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:00:00 USD Employment Cost Index (QoQ) (Q3) 0.60% 0.60%
18:00:00 USD GDP (QoQ) (Q3) 2.50% 1.40%
18:00:00 USD GDP Price Index (QoQ) (Q3) 1.30% 2.30%
19:30:00 USD Michigan Consumer Expectations (Oct) 77 76.6
19:30:00 USD Michigan Consumer Sentiment (Oct) 88.1 87.9
22:30:00 USD U.S. Baker Hughes Oil Rig Count 443
NIFTY FUT TREND : BUY ZONE
BANKNIFTY FUT TREND : BUY ZONE
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to be the same for the day.
Fundamental Overview
US dollar index is trading at 98.90, continuing to appreciate against all the major currencies in yesterday’s trade. A positive reading in Jobless claims, acceptable durable goods orders and above all, the rising treasury yields added to the dollar’s strength. Markets would be looking forward to the Q3 GDP data from the US today. Another positive reading will add to the US dollar strength, else we can expect a correction.
Economic Data & News
TIME COUNTRY DATA ACTUAL SURV PREVIOUS
18:00:00 USD Employment Cost Index (QoQ) (Q3) 0.60% 0.60%
18:00:00 USD GDP (QoQ) (Q3) 2.50% 1.40%
18:00:00 USD GDP Price Index (QoQ) (Q3) 1.30% 2.30%
19:30:00 USD Michigan Consumer Expectations (Oct) 77 76.6
19:30:00 USD Michigan Consumer Sentiment (Oct) 88.1 87.9
22:30:00 USD U.S. Baker Hughes Oil Rig Count 443